It has been generally observed that most trade in the world occurs between a developed and a less-developed nation rather than between industrial or developed nations

If a firm's output more than doubles when all inputs are doubled, production is said to occur under conditions of

A) increasing returns to scale. B) imperfect competition. C) intra-industry equilibrium. D) constant returns to scale E) decreasing returns to scale.

The nominal rate of interest is the difference between the real rate and the expected rate of inflation

a. True b. False Indicate whether the statement is true or false